Computacenter share price soars after bullish trading statement
Computacenter plc saw its share price rocket 86p – almost six per cent – to 1,617p after a bullish unscheduled trading statement.
The Hatfield, UK business is a leading independent technology partner trusted by large corporate and public sector organisations and has raced ahead of expectations based on unaudited financial information for the period to November 30.
At the group level, both revenue and profitability remain well ahead of the 2018 year-to-date performance on a like for like basis, before the positive impact of acquisitions, with the 11 months of trading to November 30 showing material progress.
Consequently, following an early review of November’s performance, Computacenter’s board believe that the group’s trading result for the financial year 2019 will be well ahead of current market expectations in both profitability and earnings per share.
The strong performance is coming from Computacenter’s established businesses and, in the second half of the year, from the acquired business in the US which is now performing in line with expectations following a difficult start to the year.
The group has not seen a repeat of the negative impact that occurred in the second half of 2018 due to contract provisions and these existing difficult contracts continue to perform in line with, or slightly ahead of, the company’s expectations.
Computacenter's board acknowledges, as is the case every year, that there is still a significant amount to do in December, which is always its busiest month of the year, but reports that visibility on this critical month's out-turn is starting to improve.